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Approved Small Business Application Form

General Instructions
This form is to be used for applications for Approved Small Business Status under the Small Business Development Act.

Format
Documents required to be sent to the Minister of Small Business, Entrepreneurship and Commerce pursuant to the Act must confirm with Section 4 of the Act. Where any provision required to be set out is too long for the space provided on the form, the form may incorporate the provisions by annexing a schedule in the manner described in regulation 35 of the regulations of the companies Act of Barbados.

  • Item 1: Set out the full legal name of the Company
  • Item 2: State the Company Number
  • Item 3: Set out in full the main types of business being carried on or to be carried on in accordance with activities listed in the First Schedule of the Act.
  • Item 4: Principal place of business relates to the address where business is actually being conducted. Set out in full the location of the principal place of business including the street address and if in a multi-office building, the room number.
  • Item 5: Set out in full the location of the registered officer including the street address and if in a multi-office building, the room number. If the registered office is the same as the principal place of business as in Item 4, state “same as above”.

Service of Documents:
Please note that documents may be sent to or served upon the company at its registered office.

  • Item 6: State the number of directors. With respect to each director:
    a. Set out the first given name and family name but give an initial for the middle name
    b. State full residential address
    c. Specify occupation clearly, e.g. manager, farmer. mechanic
    d. Indicate any former names and specify whether Christian or Surname. Bracket the one that applies
    e. Specify clearly any other business occupation
    f. State present nationality
    g. State original nationality
    h. Affix your signature
  • Item 7: The information at item 6 with respect to Directors applies with respect to the information to be provided fro shareholders.
  • Item 8: State the actual or estimated dollar value of investment in plant and equipment.
  • Item 9: State the number of employees or the anticipated or estimated numbers to be employed.
  • Item 10: With respect to companies that are exporting, state the percentage (%) level of exports of total annual production and provide the associated dollar ($) amount of foreign exchange earnings or savings.
  • Item 11: State the names of all other companies in which the shareholders and directors of the applicant company hold shares or directorships and the extent of the shareholding.
  • Item 12: State date of commencement of the business or the proposed date of start up.